Arrowstreet Capital Limited Partnership Buys 40,190 Shares of Agnico Eagle Mines Limited $AEM

Arrowstreet Capital Limited Partnership lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.5% during the fourth quarter, Holdings Channel reports. The fund owned 8,629,935 shares of the mining company’s stock after acquiring an additional 40,190 shares during the quarter. Agnico Eagle Mines accounts for 0.9% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 15th largest position. Arrowstreet Capital Limited Partnership’s holdings in Agnico Eagle Mines were worth $1,463,166,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AEM. Acumen Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $26,000. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $35,000. Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $35,000. Abound Wealth Management lifted its stake in shares of Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares during the period. Finally, Caitlin John LLC acquired a new position in shares of Agnico Eagle Mines during the third quarter valued at $36,000. 68.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on AEM. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday. Barclays began coverage on Agnico Eagle Mines in a report on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price objective for the company. Finally, Scotiabank reiterated an “outperform” rating and issued a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Stock Up 3.1%

AEM stock opened at $162.70 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The stock has a market capitalization of $81.43 billion, a P/E ratio of 15.29, a P/E/G ratio of 3.57 and a beta of 0.56. The business has a 50-day moving average of $190.08 and a 200-day moving average of $194.36. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business’s revenue was up 66.1% compared to the same quarter last year. During the same period last year, the company earned $1.53 earnings per share. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.